Cimarex Energy (XEC): An updated Net Income & Cash Flow Forecast model has been posted under the Sweet 16 Tab.
The company's 4th quarter production will dip because of weather related issues in the Permian Basin in early December. None of the problems are long-term issues and production has been restored. Higher gas prices offset lower production, so there was very little impact on my forecast.
My Fair Value Estimate for XEC is $135.30, compared to First Call's Price target of $116.28.
Note that I am still using $3.50/mcf for natural gas in all of my forecasts for 2014. I am waiting until after 4th quarter results come out before I raise the gas price, but the odds are improving for gas prices thanks to a colder than normal start to winter.